Sure, but how can Bitcoin "fail"?
What is the definition of "failure" in this case?
Even crashing to $1000 a token is not failure.
Failure only occurs if mining and hashrate lead to double-spending.
The systemic risks of Bitcoin are totally separate from the banking sector.
The chance that they both fail at the same time is practically zero.
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$1,000 Bitcoin would be a failure. I didn’t say they’d happen at the same time. But if bigger banks fail and people need money they might sell off Bitcoin to get some crashing the market by flooding it.
I suffered a 99% loss from peak on Steem starting in 2017.
That was not a failure.
This community is stronger than ever.
Your declaration of "failure" is clearly wrong.
If $1000 BTC is a failure, then is $2000?
What about $3000? $4000?
Please tell me which number is failure and what number is not.
Draw the line for me; I'll wait right here.
Good luck with that.
Spot price of Bitcoin going down is only a "failure" for distressed sellers.
It's the ultimate buying opportunity for people with balanced positions.
Distressed selling is the ultimate expression of individual greed on a collective level.
The solution is to just stop being greedy.
Easier said than done.
Anyone who can't hold for 1 or 2 years of bear market is doing it wrong.
I agree that people selling are the ones making it fail. If it gets down to single digits meaning anything under 10K I’m gonna buy as hard as I can. But that will still be considered a failure by the markets. My opinion means nothing to it being labeled a failure or not I’m nobody in the large scheme of things. I’ll buy all day if it drops hard like that.
Fair enough
Ur not a true crypto Degen unless u held a 99% loss down into an eventual profit ;)
It is known
2017, good times. That was the first time BTC reached 20k right? I started on Steem after the peak on December. All the cryptos went to shit most of 2018 XD)